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Unread 12-24-2007, 08:37 PM
 
Location: Florida
2,147 posts, read 4,754,389 times
Reputation: 508
Default Property Taxes in Navarre Fla

I get conflicting stories from a realtor I'm talking to in Navarre about property taxes. This person tells me to figure 1% of the value of the house is a good rule of thumb.

Can anyone illuminate what the reality is?

Thank you in advance
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Unread 12-24-2007, 09:20 PM
 
Location: tampa fl-Soddy Daisy Tn
181 posts, read 530,811 times
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We are in Tampa area, our non homestead property is at 2.5 % of assessed value.
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Unread 12-25-2007, 09:52 AM
 
Location: Living in Paradise
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Here is the link to the property appraiser: http://www.srcpa.org/general.html

I do pay about 1% of the original cost of the house, purchased in 1997.



HOW ARE PROPERTIES APPRAISED?

Santa Rosa County uses the same appraisal techniques normally used by independent fee appraisers. These are the Cost Approach, Sales Comparison Approach and the Income Approach.

* COST APPROACH - The principle of substitution is basic to the cost approach. This principle affirms that no prudent buyer would pay more for a property than the cost to acquire a similar site and construct improvements of equal desirability and utility without undue delay. Information pertaining to cost is acquired from builders, cost information services and from market abstraction. If the property is not new the appraiser must estimate depreciation and deduct it from replacement cost new.
* SALES COMPARISON APPROACH - This approach is the process in which a market value estimate is derived by analyzing the market for sales of similar properties and comparing these properties to the subject. Sales of similar properties must be carefully analyzed to make sure that no adverse conditions existed that would affect the purchase price. Once this is determined we can estimate value of the subject property.
* INCOME APPROACH - This approach is a unique method to evaluate property, usually commercial property. It requires a study of how much revenue the property would produce if rented. From the gross estimated revenue the appraiser would adjust for losses and expenses. The net estimated income would then be converted into an indication of value by a mathematical process called "capitalization."
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Unread 12-25-2007, 10:35 AM
 
Location: Florida
2,147 posts, read 4,754,389 times
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Ever notice how they seem to made these things confusing?

Thanks Sunrico, that would be a better rate than where we are. Tomorrow I will be talking with this realtor and then hopefully book a flight up. I have a major convention to attend in Orlando on the 10th, so we're hoping to come up for 4 or 5 days ahead of that schedule.

Merry Christmas Everyone
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Unread 12-25-2007, 11:17 AM
 
2,313 posts
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Quote:
Originally Posted by MrTudo View Post
I get conflicting stories from a realtor I'm talking to in Navarre about property taxes. This person tells me to figure 1% of the value of the house is a good rule of thumb.

Can anyone illuminate what the reality is?

Thank you in advance
This may help I think I have the right county
http://srcpa.org/taxestimator.html
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Unread 12-25-2007, 04:57 PM
 
Location: Florida
2,147 posts, read 4,754,389 times
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When I type in the amount we're willing to pay ( for the house ) it would appear to be a little less than what we're paying here in SW Fla. Does that seem about right ?
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